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Areva sells stake in Total to fund new projects: report
Paris (AFP) May 16, 2009 French nuclear power group Areva has sold its stake in oil giant Total in order to fund its own projects, the Figaro newspaper reported Saturday. Neither company would comment on the report, which said that Areva gave up its 0.4 percent share of Total valued at nearly 400 million euros (540 million dollars) some two weeks ago. Areva is seeking some three billion euros to finance its investments and said in February part of the cash would be raised by divesting its holdings in other companies. Areva, which still holds 1.2 percent of GDF Suez, is reportedly under pressure from the French government to hive off its T&D subsidiary specialising in electricity transmission and distribution, which Alstom had been obliged by financial troubles to cede to the nuclear group in 2004. Alston, whose finances have since improved, said earlier this month that it was interested in buying back T&D at a cost estimated at between three billion and five billion euros. Share This Article With Planet Earth
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France offers Pakistan nuclear energy helpParis (AFP) May 15, 2009 France and Pakistan have agreed to cooperate in the nuclear field, officials said Friday, with Islamabad claiming an important breakthrough in its bid to be seen as a responible nuclear power. Following talks between France's President Nicolas Sarkozy and Pakistani counterpart Asif Ali Zardari, the French leader's office said he had offered to help Pakistan improve its "nuclear safety" capab ... read more |
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